Just 37% of EU finance ministers studied economics

ECONOMICALLY vulnerable nations such as Greece and Portugal are more likely than their peers in better-off countries to appoint a finance minister who studied advanced-level economics, a study has found.

About two-thirds of the finance ministers of Greece and Hungary since 1973 held a PhD in economics, while in Portugal the figure was 55% — the study by Joachim Wehner and Mark Hallerberg showed. In Britain, no chancellor of the exchequer has held a PhD in economics.

“Countries that already have high debts, like Greece, Portugal and Mexico, face more pressure from the markets to appoint people that, at least in terms of their education, appear to be competent,” Hallerberg said.